Carimin Petroleum is set to surge, as it bounced off its 21-day average line while breaching the MYR0.81 immediate resistance with a long white candlestick, coupled with strong volume. If it manages to sustain above that level, the bulls could drive the stock towards the MYR0.90 mark, followed by the MYR1.00 psychological threshold. However, the momentum may lose steam if it falls below the MYR0.755 support – below the 21-day average line.

Source: RHB Securities Research - 28 Jan 2022